Taxes, Fiscal Policy, and the Fed

The more you make, the more they take is which type of tax structure?

• proportional tax

• progressive tax

• regressive tax

• sales tax

This type of tax is placed on goods or services?

• proportional tax

• progressive tax

• sales tax

• regressive tax

This type of tax is also known as the "flat tax."

• proportional tax

• progressive tax

• regressive tax

• sales tax

What are Social Security and Medicare funded by?

• FDA

• FDIC

• FIFA

• FICA

Which of the following would be a tax placed on cigarettes and alcohol?

• excise tax

• income tax

• regressive tax

• progressive tax

Which of the following would be added to the cost of a new pair of shoes bought at the mall?

• income tax

• excise tax

• sales tax

• proportional tax

Which of the following is a tax where the federal government and the state government take money out of an individual's paycheck?

• income tax

• sales tax

• regressive tax

• excise tax

Mandatory spending is money that must be spent according to?

• the president

• Congress

• the law

• the states

This is when the government chooses what to spend money on?

• mandatory spending

• discretionary spending

• taxation

• free spending

Social Security is discretionary spending?

• True

• False